The Ministry of Cooperatives and Rural Development has announced plans to subsidize over K19 billion for the cultivation of more than 96,000 acres of cotton during this financial year.
The subsidy, totalling K200,000 per acre, will be sourced from the National Economic Promotion Fund and provided in the form of inputs such as seeds and fertilizers rather than as cash.
This assistance aims to support the expansion of cotton plantations across Nay Pyi Taw, Bago, Magway, and Mandalay regions. Currently, Myanmar has 500,000 acres of cotton under cultivation, yielding about 700 visses per acre.
The private sector operates 191 cotton ginning mills, while the Ministry of Industry oversees 16 such mills. Additionally, the Ministry owns 12 textile factories, two of which are leased to the private sector, alongside nine other privately-owned textile factories. — TWA/MKKS
MoCRD to subsidize cotton cultivation with over K19 bln
- May 08, 2024
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